Nvidia's latest 13F filing shows they exited their positions in Arm Holdings and Applied Digital during the fourth quarter. It looks like standard profit taking. Arm is up since its IPO and Applied Digital rallied significantly over the last year. They moved that capital into Intel, buying roughly 215 million shares at $23.28. This purchase aligns with a new collaboration on AI data centers and consumer PCs. Intel shares have doubled since the agreed price in December, resulting in a $5 billion unrealized gain for Nvidia so far.